In this course, participants learn to estimate petroleum reserves using SEC and SPE/WPC definitions, guidelines and latest interpretations. Instructors will present the main reservoir engineering and geoscience methods used to estimate reserves, and demonstrate how definitions affect such estimates. Case studies are used to illustrate different methods for estimating reserves, along with typical errors and how to avoid them. Participants will also learn supplemental techniques such as reservoir simulation and probabilistic methods for estimating reserves.
- The purpose of reserves
- Reserves studies, reports, and definitions
- Petroleum fluids
- Resources vs. reserves
- US Reserve Standards
- Reserve classification and status
- Typical problems identified by the SEC
- International reserve standards
- Methods for estimating reserves
- Volumetric method, recovery factors, and reservoir simulation
- Reserve audits, quality control, and SEC hot topics
- The Sarbanes-Oxley Act
The rules that govern the way the oil industry reports oil and gas reserves aim to protect investors and ensure energy supplies. If your job includes dealing with SEC and SPE/WPC guidelines, this course offers a quick way to refresh your understanding of the process and learn about the latest changes.
Who Should Attend
This course is designed for industry professionals involved in estimating or filing petroleum reserves under SEC or SPE/WPC guidelines, or any oil or gas professionals interested in gaining a better understanding of the process of estimating reserves.
A basic knowledge of reserves definitions and estimation methods is desirable, but not required.
1.6 CEUs (Continuing Education Units) awarded for this 2-day course.
To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to email@example.com; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.
John Hodgin is president and a member of the Board of Directors of Ryder Scott Company, Petroleum Consultants. He joined the firm as a geologist in 1977. Prior to his election as president, Hodgin coordinated and supervised reservoir evaluation studies for the company worldwide.
After graduating from Texas A&M University with a BS in geology in 1974, Hodgin joined Gulf Oil Corporation in New Orleans as a development geologist working offshore Louisiana. Hodgin is a certified petroleum geologist and a registered professional geologist and engineer in the State of Texas. He is a member of AAPG, SPWLA, the Houston Geological Society, and SPE, and has coauthored several SPE papers on reserves topics.